• +971(4) 430 6868

  • info@d1stp.com

  • 09:00 - 18:00

  • Sunday to Friday

23 April

By Ahmed Mamdouh

Category: Forex News

 209       27       23             

Euro area private sector expansion stabilizes in April

Euro area private sector signaled a stabilization in the expansion pace in April, according to the flash Purchasing Managers’ Index released on Monday.

Markit’s Composite PMI of manufacturing and services lingered at 55.2 this month, coming below forecasts of 55.7.

Manufacturing PMI retreated to 56.0 from 56.6, while the services gauge inched up to 55.0 from a revised of 54.9.

The reading was buoyed by strong figures from the region’s two biggest economies, Germany and France.

The upbeat data comes ahead of the European Central Bank's monetary policy meeting later in the week.

As of 08:07 GMT, the euro widened its losses to $1.2258, compared to the session’s open at $1.2271.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.